EARNINGS (LOSS) PER SHARE (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Calculation of Earnings (Loss) Per Share

Calculation of earnings (loss) per share:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share amounts) (1)	2025		2024		2025		2024
Net income (loss)	$	30,077	$	6,613	$	115,499	$	(5,511)
Weighted-average common shares outstanding	170,776		170,314		171,287		169,424
Earnings (loss) per share, basic	$	0.18	$	0.04	$	0.67	$	(0.03)

Net income (loss)	$	30,077	$	6,613	$	115,499	$	(5,511)
Notes - interest expense, net of tax	—		—		742		—
Numerator for diluted EPS	$	30,077	$	6,613	$	116,241	$	(5,511)
Weighted-average effect of dilutive securities:
Notes	—		—		2,412		—
Stock options	8,190		4,328		8,400		—
RSUs	3,194		2,358		3,378		—
Effect of dilutive securities	11,384		6,686		14,190		—
Weighted-average common shares outstanding, assuming dilution (2) (3) (4)	182,160		177,000		185,477		169,424
Earnings (loss) per share, diluted	$	0.17	$	0.04	$	0.63	$	(0.03)

Outstanding anti-dilutive stock options and RSUs (5)	502		10		373		6,519

(1) The number of shares and per share amounts have been recast for all prior periods presented to reflect the effect of the Company’s Stock Split effected in the form of a stock dividend distributed on June 20, 2025.

(2) All securities are excluded when their inclusion would be anti-dilutive.

(3) The weighted-average shares underlying the conversion options in the Company’s Notes are included using the if-converted method, if dilutive in the period.

(4) The Company’s Capped Call Transactions represented the equivalent number of shares of the Company’s common stock (representing the number of shares for which the Notes are convertible). The Capped Call Transactions are excluded from weighted-average common shares outstanding, assuming dilution, in all periods as their effect would be anti-dilutive.

(5) Outstanding stock options and RSUs that were anti-dilutive under the treasury stock method in the period were excluded from the computation of diluted earnings (loss) per share. These awards may be dilutive in the future.